Bitcoin traders are anticipating increased volatility ahead of the weekly candle close, with a potential for significant liquidation of short positions. As Bitcoin is nearing the $106,600 mark, analysts suggest that a 10% increase in BTC price could liquidate approximately $15.11 billion in short positions. Liquidation risks have risen as Bitcoin has shown signs of breaking its two-week downtrend and closing above key moving averages. Traders are closely monitoring Bitcoin’s support at $100,000, which serves as a crucial psychological and technical level for bullish sentiment. Some expect that if Bitcoin can maintain momentum, it could target levels around $109,000 to $110,000 in the coming week. Analysts are divided over the immediate future, with some predicting further price corrections while others see potential for upward movement.

Source 🔗